22/04/2025

BIZ & FINANCE TUESDAY | APR 22, 2025

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CIMB pledges RM10b financing to support JS-SEZ opportunities o Bank introduces Asean Financial

our revenue segmentation, we have been expanding our B2C segment aggressively. The contribution from individual consumers is on a strong upward trend, alongside our tradi tional B2B and B2G streams. “This is not just about reducing reliance on government clients, but also about tapping into new income streams that align with the future of work,” he said. For the 2024 financial year, PEOPLElogy recorded revenue of RM29.24 million, with profit after tax at RM5.47 million. Its services span digital certifications, soft skills and leadership training, talent con sultancy and artificial intelligence powered learning platforms such as PEOPLEAPS and SKILLSTURE. Despite volatile market conditions, Lee said the company believes the timing of the listing is right. “There’s never a perfect market. But our vision is clear, and the IPO is a step forward to scale our mission across Asean.” Kenanga Investment Bank Bhd is the principal adviser, sponsor, under writer and placement agent for PEOPLElogy’s IPO. CGS International revises Malaysia’s 2025 GDP growth forecast to 4.2% KUALA LUMPUR: CGS Inter national Securities Malaysia Sdn Bhd has revised Malaysia’s 2025 gross domestic product (GDP) growth forecast to 4.2% year-on year (y-o-y) from 4.6% previously, below the official 4.5-5.5% estimate. In a note yesterday, it said the revision reflects the weaker-than expected GDP performance in the first quarter of 2025 (Q1’25) and the balance of risks, which include a strong frontloading effect to extend further following the 90 day US tariff pause. “Shipments to the US soared 50% y-o-y in March, and we expect this to continue in the next few months,” it said. On Friday, the Department of Statistics Malaysia expected Malaysia’s economy to grow by 4.4% in the first quarter of 2025 based on advance estimates, easing from a 5% expansion in the previous quarter, backed by domestic activities and steady demand. The finalised Q1’25 GDP data is will be released on May 16. CGS International opined that there is considerable strength in the domestic economy in 2025, following the government’s efforts in labour reforms, such as wage hikes in tandem with low inflation. Meanwhile, Kenanga Investment Bank Bhd has maintained its 2025 GDP growth forecast at 4.8%. “The actual Q1 2025 GDP may beat the Department of Statistics Malaysia’s advance estimate. “We also expect frontloading activity in Q2 2025, spurred by the 90-day reciprocal tariff pause, which could boost near-term growth and partly cushion a potential second half of 2025 slowdown,” it said. – Bernama

PETALING JAYA: CIMB Group Holdings Bhd yesterday announced a landmark commitment of RM10 billion in funding facilities to drive economic integration and unlock cross-border opportunities in the Johor-Singapore Special Economic Zone (JS-SEZ). Leveraging its strong Asean footprint and comprehensive suite of financial solutions, CIMB launched its Asean Financial Passport, offering a one-stop approach to empower businesses with seamless cross border banking experience, deli vering end-to-end support, including local regulatory knowledge expertise across every stage of growth. The group said in a statement that it is strategically positioned to catalyse growth across corporates and small and medium enterprises, while accelerating investment inflows in support of the transformative bilateral initiative. CIMB Group CEO Novan Amirudin said: “The JS-SEZ represents a trans formative move in regional economic collaboration, deepening connectivity and unlocking new avenues for sustainable growth between Malaysia and Singapore while strengthening the region’s resilience against global uncertainties. This initiative fosters deeper regional integration by Passport to facilitate seamless cross-border banking experience KUALA LUMPUR: PEOPLElogy Bhd, a provider of integrated people development solutions, will ramp up its regional expansion efforts, managing director Allen Lee said at the launch of the prospectus for the company’s initial public offering (IPO). He said PEOPLElogy is committing 14.86% of IPO proceeds to physical expansion and 15.24% to merger and acquisition opportunities. “We will establish new training centres in Kota Kinabalu and Kuching within the next 12 months, and new regional offices in Indonesia, the Philippines and Singapore. “We see East Malaysia as a golden opportunity. Local B2B and B2G stakeholders are eager for committed providers to build digital talent pipelines. PEOPLElogy has already been in discussions with multiple stakeholders across Sabah and Sarawak,”he said in a press conference held in conjunction with the pros pectus launch yesterday. Lee noted that a standout com

From left: CIMB Group growth markets CEO Victor Lee Meng Teck, Novan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Singapore Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong, Johor Menteri Besar Datuk Onn Hafiz Ghazi, CIMB Bank CEO Gurdip Singh Sidhu and CIMB Group commercial and transaction banking co CEO Ahmad Shazli Kamarulzaman at the CIMB Showcase within the Johor-Singapore Special Economic Zone Joint Business and Investment Forum in Johor Bahru.

creating a seamless ecosystem for businesses and talent, as well as enabling efficient movement of goods, optimising costs and enhan cing production efficiency for busi nesses. “With clear complementary strengths, improved connectivity and highly structured bilateral coordi nation, we believe that JS-SEZ is set up for success.” As a leading Asean-focused financial institution, he added, they are committed to their purpose of

advancing customers and society, by capitalising the immense potential of the JS-SEZ through their integrated cross-border banking solutions, strategic advisory and extensive ecosystem of partnerships, backed by their strong on-ground presence in both Johor and Singapore. In this heightened uncertain environment, Novan said, CIMB is committed to being a source of strength for their clients, as they have always been, in both good and challenging times, to help them

navigate this evolving landscape. CIMB has set up a dedicated team comprising 30 experienced bankers in Singapore and Malaysia to accelerate market entry for clients in Malaysia, Indonesia, Singapore, Thai land, mainland China and Hong Kong to capture opportunities arising from JS-SEZ. Complementing this, the bank also organises targeted seminars to equip businesses with practical tools and insights needed to navigate the JS-SEZ effectively. Malaysia Securities on May 20, aims to raise RM26.25 million from the offering, which consists of 105 million new shares at an issue price of 25 sen each, valuing PEOPLElogy at RM102.93 million upon listing. On potential acquisition targets, Lee said PEOPLElogy is in active con versations with players in Malaysia and Southeast Asia. “We have spent time under standing the landscape, especially last year when I visited over 60 firms overseas. We are speaking with training providers, consulting firms, and tech companies that com plement our 6D framework,” he said, referring to PEOPLElogy’s proprietary end-to-end talent development model. Lee addressed investor concerns surrounding client concentration, notably the company’s historical reliance on Yayasan Peneraju, which contributed 40% of its revenue in 2023. “This figure has already declined significantly, from 70% in 2021 to 50% in 2024, reflecting its ongoing client diversification strategy. As shown in

Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com PEOPLElogy sets sights on expanding regional footprint

From left: Kenanga Investment Bank Bhd head of corporate finance Alvin Ooi Yet Ming, corporate and institutional coverage director Datuk Kenny Yong, head of group investment banking and islamic banking Datuk Roslan Tik, Lee, PEOPLElogy non-executive chairman Datuk Seri Garry Chua, CEO Cally Yau and chief operating officer Joey Lee at the prospectus launch.

ponent of PEOPLElogy’s post-IPO strategy is the establishment of a Cyber Range simulation lab, which will absorb 32.38% of IPO proceeds. “The lab is designed to simulate real world cyber attack scenarios using immersive, gamified environments – an innovation PEOPLElogy believes will redefine how cybersecurity training is delivered in the region.

“Instead of traditional classroom training, our cyber lab uses environ mental triggers, colours and even sirens to fully engage learners. It is not just technical training – it is an experience. And that makes a huge difference in how people retain and apply critical digital skills,” he said. The company, which is slated to be listed on the ACE Market of Bursa